Loan Modification

Loan ModificationIt is imperative that a distressed homeowner understands that the bank will eventually foreclose if mortgage payments are missed. Thankfully, there are ways to avoid this. As a Denver Certified Distressed Property Expert (CDPE ), we help homeowners avoid foreclosure by exploring all possible options. One of the first actions that we take is to research whether they are eligible for a loan modification.

A loan modification is when the mortgage company re-qualifies homeowners for reduced payments, or even a reduced mortgage balance, if they can afford the mortgage payments, and can get caught back up with the lender. There must be sufficient proof of income, a financial worksheet and of the hardship. Since the bank´s loss mitigation department hears of hardship daily, its representatives are not going to be judgmental if a homeowner is making an honest and sincere effort to work with them.

If you are a distressed Denver homeowner, please contact TeamCox Realtors at 303-400-6060, or by filling out the form below. We are here to help you avoid foreclosure in Denver.

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